First Solar (NASDAQ:FSLR) Stock Price Down 1.1% – What’s Next?

First Solar, Inc. (NASDAQ:FSLR) was down 1.1% during trading on Thursday . The company traded as low as $134.77 and last traded at $134.58. Approximately 347,462 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 2,699,785 shares. The stock had previously closed at $136.04.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. UBS Group dropped their price target on First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Guggenheim cut their price target on shares of First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Piper Sandler decreased their price objective on shares of First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Seaport Res Ptn upgraded First Solar from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Finally, StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $262.08.

First Solar Stock Down 2.4 %

The firm has a 50 day moving average of $164.63 and a 200 day moving average of $192.76. The firm has a market cap of $14.21 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 0.19 and a beta of 1.52. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. As a group, sell-side analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Buying and Selling

In other First Solar news, insider Kuntal Kumar Verma sold 419 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $55,710.24. Following the transaction, the insider now directly owns 4,695 shares of the company’s stock, valued at approximately $624,247.20. This trade represents a 8.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark R. Widmar sold 1,272 shares of First Solar stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $169,125.12. Following the transaction, the chief executive officer now owns 109,000 shares of the company’s stock, valued at $14,492,640. This trade represents a 1.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,739 shares of company stock valued at $4,289,403. 0.58% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Solar

Several hedge funds have recently modified their holdings of FSLR. Strengthening Families & Communities LLC purchased a new stake in First Solar during the third quarter worth about $25,000. Larson Financial Group LLC grew its stake in First Solar by 214.0% in the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after buying an additional 107 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after acquiring an additional 63 shares during the period. Crews Bank & Trust purchased a new stake in shares of First Solar during the fourth quarter worth $53,000. Finally, Hudson Edge Investment Partners Inc. bought a new position in shares of First Solar in the fourth quarter worth $53,000. Institutional investors own 92.08% of the company’s stock.

First Solar Company Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.